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VakıfBank in Turkey: opening an account and getting a card as a foreigner, SWIFT and fees

What to take to a branch with a passport, residence permit or Turkish ID, how to get a Bankomat card, and the cost of SWIFT, EFT and cash withdrawals — based on the bank's tariff for October 2026.

ByAbdullah Habib
18 min read Updated: October 16, 2026
Summarize with:
Illustration: a street in a Turkish town, with a bank branch on the ground floor of a residential building, a yellow sign with no lettering and an ATM in the wall; nearby are a simit cart and a sleeping cat
Illustration: a bank branch on an ordinary Turkish street.

The state-owned bank VakıfBank (Türkiye Vakıflar Bankası) is 88% owned by the Ministry of Treasury and Finance and the Türkiye Wealth Fund. By law, the bank must verify a customer’s identity before opening an account. For a foreigner, a passport or residence permit card with a photo is accepted for this purpose. The bank describes joining remotely through its app only for holders of Turkish identity documents; those with a foreign passport go to a branch.

At a glance · checked 16 October 2026

Passport — visit a branch, Turkish ID — use the app.

  • A passport or residence permit with a photo — documents the law allows the bank to use to verify a foreigner’s identity.
  • A work permit does not count as an identity document: bring a passport or residence permit card.
  • Tourists and tax numbers: the bank’s website does not say whether it accepts customers without a residence permit or requires a tax number. Ask at a branch.
  • Account maintenance — 0 TL under the bank’s tariff. The Bankomat debit card works with a lira account.
  • Havale, EFT and FAST in the app are free until 31 December 2026, the bank says. Sending a SWIFT transfer abroad through the app costs between 10 and 30 USD plus BSMV tax.

The law, the bank’s website and GİB · checked 16 October 2026

Can I open an account or get a card, and what should I bring?

1. Who you are

2. What you need

Customer formwhat the bank records and checks

Tourist: Your document is a passport. The website does not say whether the bank accepts tourists without a residence permit: ask at a branch.

Residence permit: A residence permit card with a photo is a document the law allows for identity checks. Take it to a branch.

Work permit: A work permit itself does not count as an identity document: take a passport or residence permit card to a branch.

Turkish citizen: With a Turkish identity document, you can become a customer through VakıfBank Mobil without visiting a branch.

  1. Kimlik belgesiDocument

    Tourist: Passport.law

    Residence permit: Residence permit card (ikamet izni) with a photo, or passport.law

    Work permit: Passport or residence permit card. A work permit (çalışma izni) will not do: MASAK explicitly excludes it.law

    Turkish citizen: Turkish ID card, nüfus cüzdanı, Turkish driving licence or passport.law

  2. Kimlik bilgileriDetails recorded

    Tourist / Residence permit / Work permit: Name, date of birth, nationality, document type and number, place of birth (separately required by law for foreigners), employment and occupation, telephone number and email if available, and a specimen signature.law

    Turkish citizen: Name, date of birth, document type and number, T.C. kimlik numarası, employment and occupation, telephone number and email if available, and a specimen signature.law

  3. Adres teyidiProof of address

    Tourist: An electricity, water, gas or telephone bill in your name from the past 3 months — a bill from your home country is also accepted. Or a passport, if it shows your address.law

    Tourist: The bank’s website does not specify which document a branch will accept.ask

    Residence permit / Work permit: A certificate of residence (yerleşim yeri belgesi) or an electricity, water, gas or telephone bill in your name from the past 3 months.law

    Turkish citizen: An electricity, water, gas or telephone bill in your name from the past 3 months, including one from the country where you live, or a yerleşim yeri belgesi.law

  4. Vergi kimlik noTax number

    Tourist / Residence permit / Work permit: The tax authority GİB issues a potential tax number online to foreigners who have entered Turkey, using their passport details.GİB

    Tourist / Residence permit / Work permit: The bank’s website does not say whether VakıfBank requires it to open an account.ask

    Turkish citizen: Your T.C. kimlik numarası is recorded on the form.law

  5. Mukimlik (CRS)Tax residence

    If you are tax-resident in another country, the bank reports your tax number there, year-end balance and accrued interest to GİB for exchange under the CRS standard. Have this number to hand.bank

  6. ÜrünWhat you can open

    Lira account: Vadesiz TL hesabı — a lira current account for transfers, card payments and utility bills. The maintenance fee under the tariff is 0 TL.bank

    Card: The Bankomat card is linked to a lira current account (Vadesiz TL): purchases are debited from it. An Anında Bankomat card is issued immediately at a branch; a virtual card can be created free in the app.bank

    FX account: Vadesiz DTH — a foreign currency current account. You can open one in the app, through internet banking, by calling 0850 222 0 724, at a branch or at a VakıfBank ATM.bank

    Turkish citizen, FX account: If you live abroad: Expat Interest Account, a fixed-term deposit in dollars or euros, from 10,000 USD or EUR, available only at a branch.bank

  7. KanalWhere to apply

    Tourist / Residence permit / Work permit: At a branch. The bank describes joining remotely through the app only for holders of a Turkish ID card or nüfus cüzdanı.bank

    Turkish citizen: In VakıfBank Mobil. With a Turkish ID card, scan the chip using NFC and make a video call, available round the clock; a lira current account is opened immediately. With a nüfus cüzdanı, a courier will visit: you become a customer when you sign for your Anında Bankomat card.bank

Şubeat a branch

Mobilin the app

law Regulation on measures against money laundering and MASAK guidance · bank VakıfBank website and tariff · GİB Turkey’s tax authority · ask the bank’s website does not cover this; check at a branch

Who can become a customer: what the law requires

The law treats opening an account as a ‘continuous business relationship’. Before it begins, the bank must verify the customer’s identity, regardless of the amount involved. This is set out in the Regulation on measures against money laundering (Tedbirler Yönetmeliği, Articles 3 and 5). VakıfBank says the same on its anti-money laundering page: identity is checked when any account is opened, and copies of documents are kept for 10 years.

For foreigners, Article 6 lists three documents: a passport, a residence permit document or an identity document approved by the ministry. MASAK, Turkey’s financial investigation authority, explains that a residence permit card (ikamet izni) is accepted if it has a photo, but a work permit is not. Without a passport or residence permit, international or temporary protection documents are accepted.

Illustration: inside a bank branch, a woman takes a queue ticket, two people wait in chairs, and a customer places a passport on a female employee's desk, with a glass of tea nearby
Illustration: a queue ticket, passport and glass of tea on a desk.

Your address is checked too

Under Article 6, proof of address can be a certificate of residence (yerleşim yeri belgesi), an electricity, water, gas or telephone bill in your name from the past three months, a document from a government body or another document accepted by MASAK.

For people living abroad, MASAK allows the same documents from their country of residence; foreigners can also use a passport if it shows their address.

A foreigner’s tax number is called potansiyel vergi kimlik numarası, a ‘potential tax number’. The tax authority GİB issues it online to people who have entered Turkey, using their passport details. The bank’s website does not say whether VakıfBank requires it to open an account.

The bank’s website does not say

The bank’s website does not say whether VakıfBank opens accounts for tourists without a residence permit, whether a tax number is needed, or which utility bill it accepts as proof of address. Check by calling 0850 222 0 724 or at a branch.

Branch or app: two routes

The bank describes joining remotely through VakıfBank Mobil only for holders of a Turkish ID card or nüfus cüzdanı. With a foreign passport, there is one route: a branch.

Where will you become a customer?

  1. DocumentsA passport or residence permit card and a document showing your address. The form above shows what is accepted by law.
  2. Form and signatureAn employee records your details, employment and occupation, and takes a specimen signature.
  3. Card straight awayAn Anında Bankomat card is issued immediately at a branch and has the same functions as a standard Bankomat card.
  4. PINText ‘SIFRE card number’ to 5724, use a VakıfBank ATM, call 0850 222 0 724 or return to the same branch.
  1. ButtonIn VakıfBank Mobil, tap VakıfBank Müşterisi Ol‘Become a VakıfBank customer’
  2. Turkish ID cardEnter your telephone number and scan the card’s chip using NFC. If your phone has no NFC, transfer at least 1 TL from your own account at another bank.
  3. Video callEnter your occupation and address, then speak to an employee by video: calls are taken round the clock. Keep your card with you.
  4. Password and accountSet a numeric password and use it to activate the app: a lira current account is opened immediately at your chosen branch.

With the old Turkish ID booklet, nüfus cüzdanı, a courier visits instead of a video call. You become a customer when you sign for your Anında Bankomat card.

The Bankomat card: what matters

VakıfBank’s debit card is called Bankomat. It is linked to a lira current account: purchases and withdrawals are debited from it, and spending abroad is converted into lira. Tap the dots on the picture.

Illustration: a dark blue debit card with a chip and contactless symbol, a smartphone showing a virtual card, a payment terminal, banknotes, coins and a cup of coffee on a table
  1. Card and accountBankomat is linked to a lira current account (Vadesiz TL). An Anında Bankomat card is issued immediately at a branch.
  2. ContactlessPurchases up to 2,500 TL each need no PIN; larger purchases require one.
  3. In Turkey and abroadYou can pay and withdraw cash with the card worldwide. Spending abroad is converted into lira and debited from your lira account.
  4. Virtual cardSanal Bankomat Kart can be created immediately and free in the app. It is only for online purchases; you can hold up to three at once.
  5. PINText ‘SIFRE card number’ to 5724, use a VakıfBank ATM, call 0850 222 0 724 or visit a branch.
  6. CashAt another bank’s ATM in Turkey: 1.15% of the amount, 1.04 TL and BSMV; abroad: from 2.25 USD. Calculate it below.

The virtual card does not work at ATMs or physical payment terminals. Daily purchase limits on the Bankomat card can be raised in the app or through internet banking.

Withdrawing cash: what the ATM costs

Under VakıfBank’s tariff, withdrawing with a Bankomat card at another bank’s ATM in Turkey costs 1.15% of the amount plus 1.04 TL and BSMV tax. Abroad, the fee is 2.25 USD for dollar withdrawals or 2.40 USD for other currencies, with the amount converted at the ATM’s exchange rate plus 1.5%. The tariff has no line for withdrawals at VakıfBank’s own ATMs — check with the bank.

VakıfBank tariff, lines dated 12 Mar 2024 · checked 16 October 2026

Cash withdrawal costs with a Bankomat card

On-screen receipt

Withdrawal
1,000 TL
1.15% of the amount
11.50 TL
Fixed charge
1.04 TL
VakıfBank fee
12.54 TL + BSMV

Your account will be debited 1,012.54 TL plus BSMV.

For 1,000 TL at another bank’s ATM in Turkey, VakıfBank charges 1.15% of the amount, 1.04 TL and BSMV tax.

  • VakıfBank ATM: the tariff has no line for the bank’s own ATMs — check with the bank.
  • Another bank’s ATM in Turkey: 1.15% of the amount + 1.04 TL + BSMV.
  • Abroad, dollars: 2.25 USD per withdrawal, with the amount converted at the ATM’s exchange rate +1.5%, plus BSMV.
  • Abroad, euros and other currencies: 2.40 USD per withdrawal, the ATM’s exchange rate +1.5%, plus BSMV.
Illustration: a hand inserts a card into an ATM in a stone wall, with banknotes emerging from the slot; to the right are a street in summer and a glass of tea on a café table
Illustration: an ATM in a branch wall.

What is BSMV?

BSMV is a tax on banking and insurance transactions. VakıfBank’s tariff usually quotes amounts without it, marked ‘BSMV hariçtir’. This means the tax is added to the figure in the tariff.

VakıfBank has 4,172 ATMs and 972 branches — the bank’s figures as at 31 March 2026. The Şube ve ATM’ler page shows the nearest ones.

Transfers from abroad: SWIFT and who charges what

VakıfBank’s SWIFT code is TVBATR2A. To help the transfer arrive faster, the bank asks you to provide this code, along with the sender’s first name, surname and address. VakıfBank charges between 0 and 125 USD to credit an account, depending on the amount. Sending abroad through the app costs 0.5%, with a minimum of 10 and a maximum of 30 USD.

VakıfBank tariff dated 12 Mar 2024 · amounts in US dollars

SWIFT transfer: who charges what along the way

Transfer destination

Amount

How you send

Who pays intermediaries

A 1,000 USD transfer to Turkey, to a VakıfBank account

  1. Sender’s bankunder its own tariff
  2. Intermediary banksmay deduct their own fee
  3. VakıfBank10 USD
  4. Your accountyou receive the transfer

A 1,000 USD transfer from Turkey through the app

  1. Youyou pay VakıfBank
  2. VakıfBank10 USD
  3. Intermediary banksmay deduct from the amount
  4. Recipient’s bankunder its own tariff

VakıfBank will charge 10 USD to credit the account (a flat fee for amounts of 251–1,000 USD), plus BSMV tax.

All SWIFT tariff lines
TransactionVakıfBank fee
Incoming to account, up to 5.25 USD0
Incoming to account, 5.26–250 USD5 USD
Incoming to account, 251–1,000 USD10 USD
Incoming to account, 1,001–2,000 USD15 USD
Incoming to account, from 2,001 USD0.3%, min. 20, max. 125 USD
Incoming by name, no account0.5%, min. 20, max. 125 USD
Outgoing from branch0.5%, min. 40, max. 250 USD
Outgoing from app or internet banking0.5%, min. 10, max. 30 USD
Intermediary, sender pays all (OUR), in dollars10.50 USD

All amounts exclude BSMV tax. Returning or forwarding a transfer: VakıfBank charges only what other banks have deducted.

Banks along the way charge their own fees, which are not included in VakıfBank’s tariff. SWIFT GPI shows how much each has deducted and where the transfer is now: these details are available at a branch and through internet banking.

Transfers within Turkey: Havale, EFT and FAST

Havale is a transfer within VakıfBank, EFT is a transfer to another bank, and FAST is an instant transfer, including to another bank. The bank says that Havale, EFT and FAST through VakıfBank Mobil and internet banking are exempt from fees until 31 December 2026. At branches and ATMs, the tariff applies.

Transfer and channelUp to 8,300 TL8,300.01–399,000 TLFrom 399,000.01 TL
Havale · branch19.94 TL39.88 TL398.84 TL
Havale · app, internet banking3.99 TL7.98 TL99.71 TL
Havale · ATM13.92 TL27.85 TL199.42 TL
EFT · branch39.87 TL79.76 TL797.68 TL
EFT · app, internet banking7.97 TL15.96 TL199.41 TL
EFT · ATM27.84 TL55.69 TL398.83 TL
FAST to another bank · branch39.87 TL79.76 TL797.68 TL
FAST to another bank · app7.97 TL15.96 TL199.41 TL
VakıfBank tariff, lines dated 20 January 2026 (online EFT: 22 June 2026), excluding BSMV tax. By telephone on 0850 222 0 724: the same as at a branch.

FAST works round the clock: you can transfer using an IBAN or a Kolay Adres (‘easy address’) — a telephone number, email, T.C. number or tax number. From 26 August 2026, the limit per FAST transfer is 300,000 TL, as decided by TCMB. EFT operates on working days from 08:30 to 17:15.

Accounts and deposits: what the bank offers

The lira current account is the basis: your card is linked to it. Customers can open a foreign currency account (Vadesiz DTH) themselves through the app, internet banking, by telephone, at an ATM or at a branch. For those with an address abroad, the bank offers a fixed-term deposit, Expat Interest Account.

Lira current account

Vadesiz TL

For transfers, card payments, utility bills and regular payments. The maintenance fee under the tariff is 0 TL.

FX current account

Vadesiz DTH

Can be opened in VakıfBank Mobil, through internet banking, by calling 0850 222 0 724, at a branch or at a VakıfBank ATM.

Fixed-term deposit

Expat Interest Account

For customers with an address abroad who live or work there. Dollars or euros, a term of 92–750 days, from 10,000 USD or EUR, available only at a branch.

Deposit insurance

Up to 1,200,000 TL

One person’s deposits in lira, foreign currency and precious metals at bank branches in Turkey are insured by TMSF up to 1.2 million TL — as the bank writes on its account page (checked 16 October 2026).

The bank changes deposit rates frequently, so they are not listed here. Check them on the bank’s website on the day you open the account.

The bank itself: owners and figures

VakıfBank was founded on 11 January 1954 to manage the money of waqfs — charitable foundations. Today, 73.26% of its shares belong to the Türkiye Wealth Fund (TVF), established in 2016 under Law No. 6741, and a further 14.75% to the Ministry of Treasury and Finance. This makes VakıfBank a state-owned bank. The free float on the stock exchange is 7.90%.

VakıfBank owners · the bank’s figures

88% of shares — held by the Wealth Fund and Treasury.

The Türkiye Wealth Fund owns 73.26% of the shares, and the Ministry of Treasury and Finance 14.75%. The rest are held by the VakıfBank pension fund (4.06%), traded on the stock exchange (7.90%) or held by other foundations and private individuals (0.04%).

The banking regulator BDDK lists VakıfBank among deposit banks; its bank code is 15.

  • 1954year founded; the bank began operating on 13 April 1954
  • 972branches in Turkey as at 31 March 2026
  • 4,172ATMs as at the same date
  • 4branches abroad: New York, Bahrain, Erbil and Qatar; a subsidiary bank in Austria

Sanctions

VakıfBank says it complies with national and international laws and sanctions programmes, FATF recommendations, and OFAC and UN lists. The bank decides whether a particular transfer can go through: ask at a branch.

Quick answers

What is VakıfBank’s SWIFT code?

TVBATR2A. For a transfer to VakıfBank, the bank also asks for the sender’s first name, surname and address.

How much does account maintenance cost?

Under the tariff, 0 TL per month for all lira and foreign currency current accounts. The tariff line was updated on 12 March 2024.

Can I open an account online from abroad?

The bank describes joining remotely through VakıfBank Mobil only for holders of a Turkish ID card or nüfus cüzdanı. With a foreign passport, visit a branch.

How much does withdrawing abroad cost?

2.25 USD for dollar withdrawals or 2.40 USD for other currencies, with conversion at the ATM’s exchange rate +1.5%, plus BSMV tax.

How do I get a PIN?

Text ‘SIFRE card number’ to 5724, use a VakıfBank ATM, call 0850 222 0 724 or visit a branch.

Is there a virtual card?

Yes, Sanal Bankomat Kart. It can be created immediately and free in the app, is only for online purchases, and you can hold up to three at once.

What is the FAST limit?

300,000 TL per transfer from 26 August 2026. TCMB sets the limit.

Is the money in my account insured?

One person’s deposits are insured by TMSF up to 1.2 million TL — as the bank writes on its account page, checked 16 October 2026.

Sources and limitations

This is not financial advice or an advertisement for the bank. We summarise what VakıfBank, MASAK, GİB, BDDK and TCMB publish themselves, as at 16 October 2026. Tariffs and rules change, and a branch may ask for other documents: before visiting, check everything on the bank’s website or by calling 0850 222 0 724. Deposit rates and loans are not covered here.

Show checked pages
  1. Suç Gelirlerinin Aklanmasının ve Terörün Finansmanının Önlenmesine Dair Tedbirler Hakkında Yönetmelik — Mevzuat Bilgi Sistemi, checked 16 October 2026
  2. Sıkça Sorulan Sorular (questions 2, 28, 141, 143) — MASAK, checked 16 October 2026
  3. Yabancılar İçin Potansiyel Vergi Kimlik Numarası Başvurusu — GİB, checked 16 October 2026
  4. Anti Money Laundering — VakıfBank, checked 16 October 2026
  5. CRS hakkında bilgilendirme — VakıfBank, checked 16 October 2026
  6. VakıfBank Mobil ile Uzaktan Müşteri Olmak — VakıfBank, checked 16 October 2026
  7. Ürün ve Hizmet Ücretleri — VakıfBank, checked 16 October 2026
  8. Banka kartları: Sık Sorulan Sorular — VakıfBank, checked 16 October 2026
  9. Anında Bankomat Kart — VakıfBank, checked 16 October 2026
  10. Sanal Bankomat Kart — VakıfBank, checked 16 October 2026
  11. Vadesiz TL Hesabı — VakıfBank, checked 16 October 2026
  12. Vadesiz YP (Yabancı Para) Hesabı — VakıfBank, checked 16 October 2026
  13. Expat Interest Account — VakıfBank, checked 16 October 2026
  14. Döviz Transferi (SWIFT) — VakıfBank, checked 16 October 2026
  15. SWIFT GPI Sistemi — VakıfBank, checked 16 October 2026
  16. FAST — VakıfBank, checked 16 October 2026
  17. EFT — VakıfBank, checked 16 October 2026
  18. FAST Sistemi İşlem Tutar Limitinin Artırılması Hakkında Basın Duyurusu (2026-36) — TCMB, checked 16 October 2026
  19. Ownership Structure — VakıfBank, checked 16 October 2026
  20. VakıfBank in Brief — VakıfBank, checked 16 October 2026
  21. Genel Bilgiler — Türkiye Varlık Fonu, checked 16 October 2026
  22. Bankalar — BDDK, checked 16 October 2026
  23. Şube ve ATM’ler — VakıfBank, checked 16 October 2026

The illustrations are generic: they do not depict VakıfBank branches, cards, ATMs or its logo.

Article Information

Written by: Abdullah Habib
Published: March 14, 2023
Category: Banks

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